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Former U.S. Congressman Patrick McHenry calls for the Clarity Act to establish a clear regulatory framework for crypto assets

PANews
PANews July 17 — Former U.S. Congressman and former Chair of the House Financial Services Committee Patrick McHenry wrote that the currently advancing crypto market structure legislation, the Clarity Act, is one of the rare forward-looking large-scale reforms since the 1996 Telecommunications Act, aiming to establish a unified and clear regulatory framework for crypto assets. The article notes that the bill will give businesses predictable rules, protect consumers and investors, and strengthen law enforcement’s ability to crack down on crypto-related crime. McHenry emphasized that the stablecoin legislation, the GENIUS Act, has already passed through both chambers of Congress with bipartisan support, and that various crypto market structure bills have also garnered bipartisan cosponsorship from members of Congress. He said the Clarity Act is about whether the United States can continue to maintain its position as a global financial and technology hub in digital assets and the 21st-century economy.
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